$709,248 Funds Received - Research and Development Claim
Sydney, Dec 5, 2016 AEST (ABN Newswire) - Argent Minerals Limited (
ASX:ARD) (Argent, Argent Minerals or the Company) is pleased to report that $709,248 has been received in relation to the Company's research and development (R&D) claim for the financial year ending 30 June 2016.
Highlights:
- $709,248 cash payment received from the Federal Government R&D Tax Incentive Scheme.
- Funds to be strategically applied to Argent's Kempfield and West Wyalong projects.
- Together with the $200,000 NSW Government drilling grant awarded in October 2016, Australian Government support of Argent exploration activities committed during the current financial year totals $909,248.
The claim relates to a range of technical development activities associated with advancing the Kempfield and West Wyalong projects.
The Company appreciates the support of the Federal Government through the R&D Tax Incentive Scheme. These funds will be applied strategically to support the Company's exploration programmes at the Kempfield and West Wyalong projects.
Together with the $200,000 Cooperative Drilling funding awarded to Argent by the NSW Government in October 2016, this represents a total of $909,248 Australian Government funding support of Argent's exploration activities committed during the current financial year.
Argent has commenced an eight hole 1,600 metre diamond drilling program at Kempfield, and is continuing preparations for commencing a six hole 2,150 metre diamond drilling programme at the West Wyalong project.
To view the full press release, please visit:
http://abnnewswire.net/lnk/BRPJ17GF
About Argent Minerals Limited
Argent Minerals Limited (
ASX:ARD) is an Australian publicly listed company with a 100% interest in a silver/gold project at Kempfield NSW. Work is underway on the preparation of an EIS and a feasibility study for the first stage of the project which will involve heap leaching some 8.8 million tonnes of mainly oxide and transitional material to produce over 9.5 million ounces of silver and 15,000 ounces of gold over a 5 year mine life. Argent is also earning up to a 70% interest in two other NSW projects - gold at West Wyalong and base metals at Sunny Corner.
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